Deutsche Bank strategist – If Bitcoin is ‘Digital Gold’ then Ethereum is ‘Digital Silver’
Strategist Marion Laboure at Deutsche Bank’s research unit sees Bitcoin as digital gold, surviving for generations and essentially uncontrolled by the government. On the Deutsche Bank webpage, Laboure said that she might “possibly envision Bitcoin to becoming the 21st century’s digital gold,” but she cautioned investors about Bitcoin’s erratic behavior.
Instead of using the coins as a means of commerce, most people buy Bitcoin (BTC) to invest in or speculate.
“A few more ticket buying or market exits may substantially influence the supply-demand balance,” added Laboure. A dependable store of value can no longer be found in [Bitcoin]. Moreover, I believe it will continue to be very volatile in the near future.
When asked about cryptos’ lack of regulation and environmental effect, the Deutsche Bank analyst said she was concerned, but she also indicated that Bitcoin will likely stay dominant. Bitcoin retains its “first-mover advantage” in decentralized finance and with the emergence of non-fungible tokens.
The ‘digital silver’ would be Ethereum if Bitcoin is often dubbed ‘digital gold.’ When it comes to cryptocurrencies, experts at Deutsche Bank say Bitcoin is “too significant to ignore,” and they predict that as more asset managers and businesses come into the market, its value will increase even more rapidly. By 2030, the banking institution projected, digital currencies will supplant traditional fiat money.